IEO Outreach Seminar: The IMF's Exceptional Access Policy

March 5, 2025, Video: "The recent IEO evaluation of the IMF's Exceptional Access Policy (EAP) found that the policy has been useful in providing a framework for the Fund to deliberately and systematically think through the key aspect of exceptional access (EA) programs. However, due to gaps in both the design and the implementation of the policy, the evaluation finds that the EAP has fallen short of its stated objectives of shaping expectations, providing benchmarks for program design, safeguarding the resources of the Fund, and ensuring uniformity of treatment. In an attempt to balance the use of clear and objective rules with the need for flexibility, the evaluation recommends periodic reviews of the EAP to keep it updated, considering quota developments; strengthening the justification and explanation of program design in EA cases; addressing gaps in the design and implementation of the debt sustainability and market access criteria used to justify EA; strengthening the operationalization of ex post evaluations; and enhancing the implementation of the decision-making procedures and the alignment of the EAP with the Fund's enterprise risk management policy."